TCS under sub-section (1F) of section 206C on notified goods (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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..... usiness of trading in alcoholic liquor, forest produce, scrap etc. Sub-section (1F) provides that every person, being a seller, who receives any amount as consideration for sale of a motor vehicle of the value exceeding ten lakh rupees, shall, at the time of receipt of such amount, collect from the buyer, a sum equal to one per cent. of the sale consideration as income-tax. 2. It has been seen tha .....

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